KARACHI – Gold prices in Pakistan continued their upward trend for the second consecutive day, with a sharp increase recorded in both local and international markets.
According to the All Pakistan Gems and Jewellers Association, the price of one tola of gold rose by Rs12,200, taking it to Rs440,936.
The association also reported that the price of 10 grams of gold increased by Rs10,459, reaching Rs378,031.
In the international market, gold prices climbed by $122 per ounce, bringing the global rate to $4,185 per ounce.
The latest increase follows another significant jump recorded a day earlier, when the price of one tola of gold rose by Rs9,100, extending the recent bullish trend in the precious metals market.
Meanwhile, global crude oil prices recorded a significant decline, pushing Brent crude to its lowest level in four months and raising expectations of a reduction in petroleum product prices in Pakistan.
During trading in the international energy market, crude oil prices remained under pressure as investors adopted a cautious approach amid concerns over a slowdown in the global economy and the prospect of weaker oil demand.
Brent crude fell by 73 cents, or 1.02 percent, to settle at **$70.65 per barrel** in the international market.
Market analysts said crude oil prices have remained volatile in recent weeks, but the latest decline has brought Brent prices to their lowest level in four months. They attributed the downward trend to uncertainty surrounding global economic growth and expectations of softer energy demand.
If the decline in international oil prices continues, Pakistan could also see a reduction in domestic petroleum product prices in the coming pricing review.
